Apparatus and method for trading electric energy

• US 6,115,698 A
• Filed: 08/18/1995
• Issued: 09/05/2000
• Est. Priority Date: 08/18/1995
• Status: Expired due to Term

• Current Assignee: Acacia Patent Acquisition LLC (Acacia Research Corporation)
• Original Assignee: Continental Power Exchange, Inc.
• Inventors: Tuck, David, Weier, Bruce, Stojka, John
• Primary Examiner(s): Thomas, Joseph
• Application Number:
  US08/516,646
• Time in Patent Office: 1,845 Days
• Field of Search: 395/207, 395/208, 395/237, 395/226, 395/227, 364/493, 364/528.21, 364/528.26, 705/7, 705/8, 705/37, 705/26, 705/27, 235/375, 235/377, 235/378, 235/376, 345/329, 345/330, 345/962, 707/1, 707/6, 707/10
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Electric energy can be traded between connected participants such as utility companies. The present method provides a common marketplace which provides participants the ability to display both buy and sell offers to the other participants. The marketplace also allows the participants to consummate a transaction for a quantity of electrical energy. The method further allows the participants to curtail transactions and the delivery of the electrical energy if necessary.

Claims

1. A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of:

(a) connecting a first participant to a database display;

(b) connecting a second participant to the database display;

(c) displaying a price for the quantity of electrical energy;

(d) consummating a transaction between the participants for the quantity of electrical energy; and

(e) curtailing the transaction between the participants.

2. A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of:

(a) connecting a first participant to a database display;

(b) connecting a second participant to the database display;

(c) displaying a price for the quantity of electrical energy;

(d) computing a performance index associated with a reliability for either participant; and

(e) displaying a reliability indicator associated with any offer to sell electric energy.

3. A method of selling a quantity of electric energy between at least two participants, said method comprising the steps of:

(a) connecting a first participant to a database display;

(b) connecting a second participant to the database display; and

(c) displaying a price for the quantity of electrical energy for next hour offers;

(d) displaying the next hour offers during the current hour; and

(e) stopping the consummation of next hour transactions at a predetermined time during the current hour.

4. A method for facilitating the trading of units of electrical energy in a data processing system, the method comprising the computer-implemented steps of:

(a) receiving an offer to buy a quantity of units;

(b) receiving an offer to sell a quantity of units;

(c) storing a list of transaction conditions wherein said list comprises;

(i) a parameter associated with a quantity of units that can be physically delivered wherein said parameter is a limit on an electrical energy unit transmission capacity;

(ii) a parameter associated with a contractual agreement between at least one or more buyer and seller participants; and

(d) facilitating a trade transaction for units of electrical energy if transaction conditions are satisfied.

5. The method of claim 4 further comprising:

(e) curtailing the trade transaction between transaction participants.

6. The method of claim 4 further comprising:

(e) computing a performance index associated with the trade transaction.

7. The method of claim 6, wherein computing the performance index for the trade transaction is based upon a performance index associated with a buyer, a seller, or a wheeler.

8. The method of claim 7, wherein a performance index for a party to a transaction is based upon historical transaction data.

9. The method of claim 4 further comprising:

(e) determining a path of delivery of said units through a wheeler for said trade transactions.

10. The method of claim 4 further comprising:

(e) informing a buyer and a seller of a consummation of the trade transaction.

11. The method of claim 4 further comprising:

(e) clearing a payment obligation for the trade transaction through an electronic settlement process.

12. The method of claim 4 further comprising:

(e) informing a buyer and a seller of a scheduling obligation for the trade transaction.

13. The method of claim 4 wherein step (c) (i) is stored if the buyer and seller are at different points.

14. The method of claim 4 wherein step (c) (i) is not stored if buyer and seller are at the same point.

15. The method of claim 4 wherein step (c) (i) is not stored if the units are at the same point.

16. A data processing system for use in facilitating the trading of units of electrical energy in a data processing system, the system comprising:

(a) means for receiving an offer to buy a quantity of units;

(b) means for receiving an offer to sell a quantity of units;

(c) means for storing a list of transaction conditions wherein said list comprises;

(i) a parameter associated with a quantity of units that can be physically delivered wherein said parameter is a limit on an electrical energy unit transmission capacity;

(ii) a parameter associated with a contractual agreement between at least one or more buyer and seller participants; and

transaction conditions are satisfied.

17. The system of claim 16 further comprising:

(e) means for curtailing the trade transaction between transaction participants.

18. The system of claim 16 further comprising:

(e) means for computing a performance index associated with the trade transaction.

19. The system of claim 18, wherein computing the performance index for the trade transaction is based upon a performance index associated with a buyer, a seller, or a wheeler.

20. The system of claim 18, wherein a performance index for a party to a transaction is based upon historical transaction data.

21. The system of claim 16 further comprising:

(e) means for determining a path of delivery of said units through a wheeler for said trade transactions.

22. The method of claim 16 further comprising:

(e) means for informing a buyer and a seller of a consummation of the trade transaction.

23. The method of claim 16 further comprising:

(e) means for clearing a payment obligation for the trade transaction through an electronic settlement process.

24. The method of claim 16 further comprising:

(e) means for informing a buyer and a seller of a scheduling obligation for the trade transaction.